Nigeria Sovereign Wealth approves N1.8bn investments in agric
Nigeria Sovereign Investment Authority (NSIA) has approved N1.8 billion (about $5million) for Doreo Partners to train 50,000 farmers in the Babangona Outgrower Farming Scheme in line with the Federal Government’s efforts to boost agriculture and reduce the economy’s dependence on oil exports. NSIA manages the Nigeria Sovereign Wealth Fund. Alhaji Sanusi Lamido Emir of Kano and Chairman, Doreo Partners Mr. Uche Orji, Managing Director and Chief Executive Officer of NSIA, who disclosed this at the agreement signing ceremony in Lagos last weekend said the facility is a term loan with a two-year moratorium aimed at adding another 50,000 farmers by 2021 to the fast growing farming scheme. Babban Gona, which means “great farm” in Hausa, is an agricultural franchise, developed by Doreo Partners, a firm with a proven track record of exclusively investing in profitable, high growth, early stage businesses that improve the livelihoods of Nigerian smallholder farmers. Alhaj